Indian Economy Mixed Quiz: Set 88

The Twelfth Five-Year Plan (2012–17) aimed at 4 per cent growth in agriculture, not 5 per cent. The Twelfth Plan, titled Faster, More Inclusive and Sustainable Growth, was the last five-year plan; after it the Planning Commission was replaced by NITI Aayog in 2015.

NCDEX, which began operations in 2003, is the exchange on which farm contracts such as guar seed, chana, castor seed, soybean, mustard, cotton and jeera are traded, and it is the reference point for agricultural futures prices in India.

Bank rate and open market operations are instruments of the Reserve Bank's monetary policy; public debt and public revenue belong to fiscal policy.

Mutual funds in India are registered with and regulated by the Securities and Exchange Board of India under the SEBI (Mutual Funds) Regulations, 1996, which lay down the three-tier structure of sponsor, trustees and asset management company, the scheme categories, the cap on the expense ratio and the disclosures a…

Deflation is the opposite of inflation: the general price level keeps falling over a period of time. When prices fall steadily, the purchasing power of money rises, but the effect on the economy is usually harmful.

The CCPA is a regulator created by that Act to protect the interests of consumers as a class, and not merely to decide an individual complaint.

SGST Acts are passed by each State Legislature, not by Parliament. The 101st Amendment, 2016 added Article 246A, which gives both Parliament and the State Legislatures the power to make laws on GST, and Article 279A, which created the GST Council.

The Sensex was launched in 1986 and its series was worked back to the base year 1978-79, for which the index value is taken as 100, so that a Sensex reading shows how many times the market has grown since that base.

When a currency depreciates, a country's goods become cheaper for foreign buyers, while imports become dearer at home, not cheaper.

The Industrial Policy Resolution of 1956 followed the Congress session at Avadi that called for a socialistic pattern of society, and it gave the public sector the commanding role.

Both statements describe the standard method used to draw India's poverty line. A poverty line is the income or spending needed to meet basic needs.

The target declared for Make in India was to raise the share of manufacturing in gross domestic product to twenty-five per cent along with the creation of a large number of jobs; the deadline, first set for 2022, was later extended.

A price floor is a lowest price fixed by the government, and the MSP guarantees farmers that price for crops such as jowar.

The IIP is confined to the industrial sector and has exactly three components, mining, manufacturing and electricity, which are options A, B and C. Agriculture and the whole of the services sector, which together account for the larger part of India's output, lie outside the index, and that is why…

PMSSY was set up to correct regional imbalances in tertiary health care and to improve medical education; universal immunisation is not its aim.

The Agreement on Trade Related Aspects of Intellectual Property Rights is one of the agreements that came into force with the establishment of the World Trade Organization in 1995, and it binds every member to minimum standards of protection, enforceable through the dispute settlement system of the organisation.

The Extended Fund Facility is a lending arrangement of the International Monetary Fund for countries with serious balance of payments problems.

It is one of the two education indicators in NITI Aayog's National Multidimensional Poverty Index. The national MPI measures deprivation, not income, across three equally weighted dimensions: health, education and standard of living.

A normal demand curve slopes downward from left to right, so its slope is negative. The law of demand says that, other things remaining the same, the quantity demanded of a good rises when its price falls and falls when its price rises.

This is false: an economic model can be stated in words, shown in diagrams or graphs, or written as equations.